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Author: PuddinHead42 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 91  
Subject: Re: Passive vs Active Date: 12/1/2012 7:43 PM
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As far as management goes, there are several strong management companies that rent out in this area, in addition to Home Away. If Home Away were to make me an "active" manager, then I could be less effective than a management company and still net more. In addition, if it made me an "Active" manager, then I could deduct expenses and depreciation against my salary income since it would probably exceed my rental income. This would be beneficial. Of course all this will depend on what a CPA says. Same for Schedule C vs E (thanks for that, I will check it out).

Of course every tax law is about to change, so it may not matter ;-(

I have rented twice from Home Away and both experiences were very good. In both cases we were able to interact with the owners on many levels. In one case we talked a lot about investing in real estate. On my latest trip, I called up and asked if I could stay a couple extra days, he had someone coming in on the second day, but said I could stay one more. He also gave it to me for half price since it was a "dead" day. This was a nice surprise. When I later told him there were no paper towels, last roll of tp and something else I forgot, he was very apologetic. I said no biggie, just might want to make sure the maid stays on top of it. In addition, without my asking, he send a "refund" check of half of the rent I paid for the extra day, which was totally unnecessary. But it helps make me a loyal renter.
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